Founded in 1984, Fiserv Inc. is headquartered in Brookfield, WI. The company provides financial services technology solutions to over 12,000 clients worldwide in the banking, insurance, healthcare and investment industries. Fiserv serves banks, credit unions, leasing and finance companies, investment management firms, billers, retailers, and merchants.
The company has grown its business through developing highly specialized products and services and enhancing them, increasing capabilities through innovation, expanding client base, and acquiring complementary businesses. Core focus areas of Fiserv’s business are portfolio management, client relationship value enhancement, operational effectiveness, capital discipline and innovation.
Revenues climbed 2.2% year over year to $5.8 billion in 2018. Processing & services revenues, primarily generated from account-and-transaction based fees under contracts (three to five-year terms), represented 85.4% of revenues in 2018. The company has two reportable segments –
Payments and Industry Products– This segment provides electronic bill payment and presentment services; person-to-person payment services; account-to-account transfers; debit and credit card processing and services; Internet and mobile banking software and services; payments infrastructure services; and other electronic payments software and services. The segment also provides card and print personalization services; fraud and risk management products and services, and investment account processing services for separately managed accounts. It accounted for about 59% of 2018 revenues.
Financial Institution Services– This segment provides account processing, item processing and source capture, cash management and consulting services, loan origination and servicing products, among others. The segment also provides ACH and treasury management, and source capture optimization services and case management and resolution services to the financial services industry. It accounted for about 41% of total revenue in 2018.
Fiserv has announced the acquisition of First Data Corporation in a $22 billion all-stock deal which is expected to close during the second half of 2019.